Eriez applied to the Welsh Assembly for Regional Selective Assistance of up to 84,000 to help implement a 500,000 project to manufacture superconducting magnets and sampling equipment.
The Welsh Assembly said that the money would be paid in equal instalments over three years providing that 29 jobs were created. But the company has already created enough new jobs in Bedwas, Caerphilly which has meant that Eriez has received its final funding instalment ahead of schedule.
The grant project is part of a larger expansion
scheme which will see the Eriez facility increase by 1,300 square metres to a total of 3,500 square metres. This will see an additional manufacturing space of 770 square metres with a separate
area for manufacture of metal detectors and a 90 square metre purpose-built spray booth and design workshops.
Welsh First Minister, Rhodri Morgan, said: “The Welsh Assembly Government is delighted to have been party to Eriez’s success in completing the expansion programme at its manufacturing facility in Bedwas ahead of schedule. The Regional Selective Assistance is our primary tool for granting financial aid to business in Wales and this is an excellent example of how we can work in partnership with the private sector. The creation of 29 new jobs in Bedwas is welcome news and will assist in the regeneration of the local economy.”
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